A joint venture of Shanghai based China Shipping Development and Mitui OSK Lines has ordered four 172,000-chm LNG carriers from Hudong Zhonghua Shipbuilding.

The vessels costing as much as $900m are for long term charter to Mobil Australia and ExxonMobil linked Papua New Guinea LNG.

The joint venture is 70% owned by Mitsui OSK and 30% by the China Shipping Development related companies East China LNG Shipping and North China LNG Shipping.

The newbuildings will be financed by Sumitomo Mitsui Banking and owned by the joint venture companies Aquarius LNG Shipping, Gemini LNG Shipping Capricorn LNG Shipping Limited and Aries LNG Shipping.

Mitsui